B2B cybersecurity platform Expel that it raised a $20 million Series B led by Silicon Valley-based . , , , and other venture capital firms also participated in the round.
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Prior to this capital event, the company raised a led by Washington D.C.-based in September 2016. Its latest round brings the company鈥檚 aggregate funds raised to $27.5 million.
Expel was founded in Mclean, Virginia by Dave Merkel, Yanek Korff, and Justin Bajko in 2016. The startup aims to demystify the cybersecurity space with its security threat monitoring and detecting products. The startup boasts itself as the transparent, cooperative alternative to other managed security service providers (MSSPs).
鈥淢ost MSSPs and MDRs operate as a 鈥榖lack box鈥 and the customer has no idea what they鈥檙e doing,鈥 CEO Dave Merkel told 附近上门 News in an email.
Expel鈥檚 user interface is meant to give customers an interactive look at the threats found by analysts, the processes taken to stall those threats, as well as action items for customers to fix current and future threats to security. Its products integrate with pre-purchased security platforms, and the startup also offers a 鈥渉unting鈥 option which finds other existing security threats.
鈥淪ince the initial raise in 2016, we built and launched the offering, built our security operations center (SOC), signed our initial group of customers and grew the company to 55 employees,鈥 Merkel told 附近上门 News.
According to its press release, Expel will use its newly raised capital for product development and go-to-market activities. Merkel mentioned to 附近上门 News聽that Expel will also add new offerings to manage customer cloud environments.
Increased focus on cloud computing has brought along further interest in cybersecurity both regarding data use and security threats. As everyone is aware, Facebook and other social media outlets have been under fire for . Meanwhile, Carbon Black, a security-focused SaaS firm, recently filed to go public. In light of the current political climate and discussions surrounding the issue, this is quite the time to be a security monitoring business focused on transparency and user involvement.
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